Abuja: The Securities and Exchange Commission has issued a strong warning to the public about investing in unregistered investment schemes, specifically highlighting Silverkuun Investment Cooperative Society/Silverkuun Limited.
According to News Agency of Nigeria, the commission released a circular from Abuja, stating that Silverkuun is not registered to operate in any capacity within the country’s capital market. The SEC expressed concern over these entities falsely presenting themselves as investment advisers and fund managers.
The commission’s statement highlighted that Silverkuun Investment Cooperative Society/Silverkuun Limited is not authorized for operations in the Nigerian Capital Market. As such, the SEC has advised the public to refrain from engaging with Silverkuun or its representatives for any capital market-related business.
The SEC emphasized the financial risks involved in transacting with unregistered and unregulated entities, warning that investors could face fraud and potential loss of investment. The public is urged to verify the status of companies offering investment opportunities via the commission’s portal at www.sec.gov.ng/cmos before proceeding with any transactions.
Dr. Emomotimi Agama, the Director-General of SEC, reiterated the commission’s stance on the matter, stating that they would shut down operations of any unregistered entities and ensure that promoters face legal consequences.
